What is Bitcoin, what is its price today in GBP and USD and how can you buy the cryptocurrency?

Bitcoin has been hailed by some as the future of currency - but its volatile price and questionable safety is something to keep in mind

By Jon Lockett and Edward Hyatt

15th February 2018, 9:25 am

Updated: 15th February 2018, 9:45 am

BITCOIN is the hot topic in the world of amateur and professional currency investment currently.

Its meteoric rise in value over the last year – punctuated by some dramatic falls – has made hundreds of early investors extremely wealthy, meaning that everyone suddenly wants a slice of the action. But what is it worth today?

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The value of Bitcoin surged at the beginning of 2017

What is Bitcoin?

Bitcoin is a virtual currency that was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.

Individual Bitcoins are created by computer code.

The total value of all Bitcoin in existence is now more than £185billion.

Transactions are made without middlemen, so there are no transaction fees and no need to give your real name.

More businesses are beginning to accept them and in some parts of the world you can even buy pizza with Bitcoins.

You can set up a virtual wallet websites like Blockchain to store, keep track and spend your digital money.

You are also able to purchase Bitcoin through an online exchange or Bitcoin ATM.